Grand Canyon Education (NASDAQ:LOPE) Issues Q3 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.350-1.510 for the period. The company issued revenue guidance of $236.5 million-$244.0 million. Grand Canyon Education also updated its FY 2024 guidance to 7.570-8.040 EPS.

Grand Canyon Education Stock Up 1.5 %

Shares of LOPE traded up $2.18 on Thursday, hitting $149.26. 276,848 shares of the stock traded hands, compared to its average volume of 202,621. Grand Canyon Education has a 1 year low of $99.65 and a 1 year high of $156.56. The stock’s 50 day moving average is $133.57 and its two-hundred day moving average is $132.48. The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. The company had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 EPS. Research analysts forecast that Grand Canyon Education will post 7.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LOPE. Barrington Research upped their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an outperform rating in a research note on Wednesday. Robert W. Baird upped their price target on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their price target on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday.

Insider Transactions at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the sale, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.